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522 W 142nd St
New York, NY 10031
522 West 142nd Street · Multifamily Property For Sale
·
3 Units
EXECUTIVE SUMMARY
Positioned on the south side of West 142nd Street between Broadway and Hamilton Place, this four-story brownstone with basement offers a rare opportunity for both users and investors in the heart of Hamilton Heights. The property is being sold with proposed plans to convert the existing 3-unit structure into a 4-unit apartment building, maximizing its R6A zoning and 1,215 square feet of available air rights.
The proposed layout includes a two-bedroom duplex garden apartment spanning the basement and first floor, a one-bedroom floor-through on the second floor, and two additional two-bedroom units on the third and fourth floors. Each unit is designed with exposed brick, wood flooring, full kitchens and baths, central HVAC, and individual gas and electric metering. The entire building will be sprinklered for safety.
With all units designated as free market, the property offers strong income potential, with projected monthly rents totaling $11,750 and annual gross income of $141,000. After expenses, the net operating income is estimated at $122,322.96. This makes it an ideal live-plus-income scenario for an owner-occupant or a compelling investment in a high-demand rental market.
Located near the A, C, B, and D subway lines, the property provides excellent access to downtown Manhattan and the outer boroughs. The surrounding neighborhood is rich in culture, historic architecture, and growing residential demand, making this a strategic acquisition in one of Upper Manhattan’s most desirable enclaves.
The proposed layout includes a two-bedroom duplex garden apartment spanning the basement and first floor, a one-bedroom floor-through on the second floor, and two additional two-bedroom units on the third and fourth floors. Each unit is designed with exposed brick, wood flooring, full kitchens and baths, central HVAC, and individual gas and electric metering. The entire building will be sprinklered for safety.
With all units designated as free market, the property offers strong income potential, with projected monthly rents totaling $11,750 and annual gross income of $141,000. After expenses, the net operating income is estimated at $122,322.96. This makes it an ideal live-plus-income scenario for an owner-occupant or a compelling investment in a high-demand rental market.
Located near the A, C, B, and D subway lines, the property provides excellent access to downtown Manhattan and the outer boroughs. The surrounding neighborhood is rich in culture, historic architecture, and growing residential demand, making this a strategic acquisition in one of Upper Manhattan’s most desirable enclaves.
PROPERTY FACTS
| Price Per Unit | $1,262,983 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 4.45% | Lot Size | 0.04 AC |
| No. Units | 3 | Building Size | 3,240 SF |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1910 |
| Zoning | R6A - Medium density residential district | ||
| Price Per Unit | $1,262,983 CAD |
| Sale Type | Investment |
| Cap Rate | 4.45% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.04 AC |
| Building Size | 3,240 SF |
| No. Stories | 4 |
| Year Built | 1910 |
| Zoning | R6A - Medium density residential district |
AMENITIES
SITE AMENITIES
- Fenced Lot
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 3 | - | - |
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